The blockchain in telecom market size is expected to grow from USD 46.6
million in 2018 to USD 993.8 million by 2023, at a Compound Annual
Growth Rate (CAGR) of 84.4% during the forecast period.

The blockchain in telecom market is driven by various factors, such as
the increasing support for OSS/BSS processes and rising security
concerns among telcos. However, growing concerns over the authenticity
of users, and uncertain regulatory status and the lack of common
standards can hinder the growth of the market.

The application providers segment is the fastest growing segment in the
blockchain in telecom market. The blockchain in telecom market has been
categorized as, application providers, middleware providers, and
infrastructure providers. The application providers leverage the
platforms and solutions provided by infrastructure providers and tools
provided by middleware providers for the development of applications.
Applications developed have various use cases and can run on endpoints,
mobile devices, and other IoT devices.

Market Dynamics

Drivers

Increasing Support for OSS/BSS Processes

Rising Security Concerns Among Telcos

Restraints

Growing Concerns Related to the Authenticity of Users

Uncertain Regulatory Status and the Lack of Common Standards

Opportunities

Blockchain Technology Helps the Telecom Sector in Fraud Management

Extensive Use of Blockchain Solutions in IoT Space

Increasing Use of the Blockchain Technology for Implementing 5G
Technology

Challenges

Lack of Awareness of the Blockchain Technology

Lack of Understanding About the Blockchain Concept, Skill Sets, and
Technical Knowledge